Question
Since the birth of his daughter, 16 years ago, Evan has deposited $100 at the beginning of every month into a Registered Education Savings Plan
Since the birth of his daughter, 16 years ago, Evan has deposited $100 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4.10% compounded monthly for the first 11 years and 4.70% compounded monthly for the next 5 years.
a. What would be the accumulated value of the RESP at the end of 11 years?
Round to the nearest cent
b. What would be the accumulated value of the RESP at the end of 16 years?
Round to the nearest cent
c. What is the amount of interest earned during the 16 year period?
Round to the nearest cent
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Retail Investor In Focus The Indian IPO Experience
Authors: Parimala Veluvali
1st Edition
3030127559,3030127567
